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Canadian Solar And Strata Solar Partner On Portfolio Of Utility Scale Projects

SAN RAMON, Calif., Feb. 25, 2013 /PRNewswire-FirstCall/ -- Canadian Solar, Inc., (the "Company," or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies, today announced that it has invested in and partnered with Strata Solar on a suite of utility-scale solar power projects located in North Carolina. The projects, developed jointly, will total approximately 85MW divided amongst 15 unique solar installations.

The first project to be commissioned is Fuquay Farm, a 6.4MW DC project located in Middle Creek, Willow Springs in Wake County, NC. The project broke ground in November 2012 and will be commissioned by the end of February. Once up and running it is expected to create enough renewable energy to power 750 homes and will divert 8.8 million pounds of CO 2 per year.

"Strata Solar is making great strides in bringing solar to North Carolina. We are thrilled to collaborate with a top tier firm that has a clear commitment to the future of solar in the region.," said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "Fuquay Farm is the first of many, and we look forward to working closely with Strata Solar to generate clean energy for the residents of North Carolina."

"We are very excited about our partnership with Canadian Solar," said Michael Cohen, VP Business Development of Strata Solar. "We hold the same values at our core – long term job growth, promoting energy independence, our national security, and growing the clean energy base in America. Canadian Solar offers a world-class product backed up by industry leading executives."

The portfolio of 15 solar power projects mainly consist of 6MW utility scale solar energy farms, but will also include a 1MW rooftop solar system and a 3MW farm. The construction will be staggered throughout the year with the entire portfolio set for completion by the end of 2013. During the first year of operation, the energy produced by the portfolio will be equivalent to removing approximately 17,067 passenger cars from the road.